Travel Insurance in the Philippines: What is It and Where to Get One

Travel insurance in the Philippines is typically not a priority when planning a trip. You consider getting one only when the airline offers it to you as you book your flight, or when it’s required for your visa application.

You wonder: “Do I really have to buy travel insurance? Or is it just an unnecessary expense?”

Some travelers may need it more than others. And some might find that the coverage may not be worth the cost. 카지노사이트

To decide whether to get this type of insurance or not, it’s best to understand how travel insurance in the Philippines works, when it’s good to have one, and what benefits you can expect from some of the more established travel insurance providers in the country.

What is Travel Insurance?
Travel insurance is a type of non-life insurance that provides protection against unforeseen inconveniences and mishaps during a trip. It covers events such as lost passports, lost or delayed baggage, trip cancellations, accidents, medical expenses abroad, and death.

When Should You Buy Travel Insurance?
travel insurance philippines – when should you buy travel insurance

Is travel insurance mandatory in the Philippines? Not anymore. Starting in May 2022, international tourists are no longer required to present travel insurance when entering the country. Getting travel insurance is highly encouraged but not mandated.[1]

Travelers usually get this insurance coverage to travel with peace of mind. Generally, it’s a good idea to get your travel insurance before entering the Philippines, so you can reimburse non-refundable travel expenses. 안전한카지노사이트

Here are different situations where buying insurance is a must.

  1. For When You Don’t Have Life or Health Insurance
    Travel insurance is advisable for travelers who have no life or health insurance coverage. It’s all the more imperative to get one if you have dependents.

Even if the odds of illness or death while traveling are low, you’d want to have protection for when you need funds to cover your medical expenses until you return home.

  1. For International Trips
    You need to have insurance each time you travel abroad. Although you already have a life or health insurance policy, your medical expenses might not be covered if you get hospitalized overseas. Only a few life insurance policies in the Philippines cover hospitalization and medical treatments abroad.

Medical costs in foreign countries can be expensive, too. You can’t always tell if you’ll have enough cash for out-of-pocket medical expenses. This is where travel insurance in the Philippines comes in handy, as you won’t have to be burdened as much when paying for medical bills while on an overseas trip.

  1. For Schengen Visa Application
    Filipinos traveling to Europe are required to buy a travel insurance policy before applying for a Schengen visa. 카지노사이트 추천

Travel insurance for a Schengen visa in the Philippines should cover the entire period of stay in all member states of the Schengen Area, regardless of the purpose of visit (e.g., tourism, business, education, etc.), with a coverage of at least €30,000 (approximately ₱1.8 million) for medical emergencies, hospitalization, and repatriation in case of death.

Also, the insurance policy should come from an accredited Schengen-compliant insurance company in the Philippines.

  1. For Expensive Trips with Prepaid and Non-Refundable Expenses
    Do your prepaid and non-refundable travel expenses (e.g., airline tickets, tours, accommodations, etc.) cost higher than what you’re willing to lose? Are you worried about losing money if the airline cancels your trip?

If so, you should get insurance before you leave so that you’ll be reimbursed for your travel-related bookings in case your trip is canceled.

Fund Your Travels with a Loan from Citibank
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If you have to count every penny in your purse before and after going on a trip, it might be best to just get a Citi Bounce Back Personal Loan to make sure you can recover from any financial setback arising from your travel.

You can loan up to ₱2 million with low interest rates and enjoy rewards worth up to ₱10,990 upon loan disbursement when you apply via Moneymax.

Note: This product is sold by Union Bank of the Philippines, using certain trademarks temporarily under license from Citigroup Inc. and related group entities.

When is Travel Insurance Unnecessary?
travel insurance philippines – when is travel insurance unnecessary

Even though travel insurance in the Philippines is useful in many cases, it’s not always worth the extra cost. Here’s when you can skip the insurance for your trips.

  1. You’re Traveling for Cheap (or Free)
    If you’re just visiting your relatives in the province, you won’t likely have to pay for food, accommodation, and other travel costs because chances are that you’ll be staying with family members. Buying travel insurance in this case might not be a good idea.

Yes, there’s a risk of losing money, but the amount is relatively inconsequential compared to how much you can lose during an overseas trip. Purchasing insurance every time you go on a trip, no matter how short the distance, might cost you more in the long run, defeating the purpose of travel insurance.

As a rule of thumb, try to see the bigger picture first, and check if the benefits you can claim when the need arises are worth more than the costs you’ll shell out if you get travel insurance.

  1. For Domestic Trips
    Do you have life or health insurance coverage? You probably don’t need insurance when traveling within the Philippines. Your existing life or health insurance may already cover medical expenses during an emergency.

If you haven’t booked any expensive prepaid and non-refundable travel expenses, insuring your trip may not be worth the cost.

  1. Your Credit Card Provides Travel Insurance
    Some credit cards offer free travel insurance as a benefit. An example is the AIG travel insurance in the Philippines, which is offered as one of the benefits available to Visa infinite cardholders who use their card to make land, sea, or air travel purchases.[2]

Check if your card comes with travel insurance and know its specific coverage. You might be getting duplicate coverage if you get another insurance policy when your credit card has sufficient coverage for any travel inconvenience and accident.

If you have a car insurance policy, check it as well to see if its coverage includes theft protection and rental car collision benefits. You don’t want to pay extra for travel insurance when your existing car insurance policy already covers you for any unexpected road mishap.

What are the Best Travel Insurance Providers in the Philippines?
If you’re not sure where to get travel insurance in the Philippines, check out this list of some of the more popular and trusted insurance providers in the country.

travel insurance philippines – etiqa

Premium: Starts at ₱136
COVID-19 coverage: Available
Flight assistance benefit
Medical assistance benefit
Assistance with bail bond payment
Personal liability benefit
Personal accident and disablement benefit
Child guard
Advance of money
Etiqa is an award-winning ASEAN insurer that provides all types of life and non-life insurance products. It’s a technology-driven insurance company with international experience and deep local knowledge in Southeast Asia. In fact, it’s known as a pacesetter in the digital insurance niche in Singapore and Malaysia.

Despite all its accolades, Etiqa offers affordable insurance products. If you’re looking for the cheapest travel insurance in the Philippines, Etiqa is the provider for you. This insurance company can protect you against unforeseen events like flight cancellations, medical emergencies, and vehicle accidents while traveling—all for a relatively small premium.

Whether you’re traveling solo or with your family, you can avail of Etiqa’s comprehensive but cost-effective travel assistance plan, which is available for clients aged 0 to 80. Additional COVID-19 coverage is also available for clients up to age 65 who are traveling internationally.[3]

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